Quanex Building Products (NYSE:NX) Reaches New 12-Month Low - Here's What Happened

Quanex Building Products Co. (NYSE:NX - Get Free Report) shares reached a new 52-week low during trading on Wednesday . The company traded as low as $24.85 and last traded at $25.06, with a volume of 730132 shares. The stock had previously closed at $26.44.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NX shares. Benchmark restated a "buy" rating and set a $38.00 target price on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com downgraded shares of Quanex Building Products from a "buy" rating to a "hold" rating in a research report on Saturday.

Quanex Building Products Stock Performance

The stock's fifty day simple moving average is $29.59 and its 200-day simple moving average is $28.92. The company has a market capitalization of $1.16 billion, a PE ratio of 21.86, a PEG ratio of 0.89 and a beta of 1.24. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX - Get Free Report) last announced its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.08. Quanex Building Products had a return on equity of 14.06% and a net margin of 2.59%. During the same period in the previous year, the company earned $0.95 earnings per share. On average, research analysts predict that Quanex Building Products Co. will post 2.26 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Monday, December 16th. Quanex Building Products's payout ratio is currently 28.57%.

Hedge Funds Weigh In On Quanex Building Products

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Quanex Building Products by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company's stock worth $28,000 after buying an additional 393 shares during the last quarter. Quarry LP grew its holdings in Quanex Building Products by 150.8% in the third quarter. Quarry LP now owns 1,126 shares of the construction company's stock valued at $31,000 after purchasing an additional 677 shares during the period. Point72 Hong Kong Ltd acquired a new position in Quanex Building Products during the third quarter worth approximately $37,000. Public Employees Retirement System of Ohio raised its stake in Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company's stock worth $41,000 after purchasing an additional 605 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Quanex Building Products in the 2nd quarter valued at $46,000. Institutional investors and hedge funds own 97.48% of the company's stock.

Quanex Building Products Company Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.

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